UPSC 2017 IAS Exam: PIB Articles Summary and Analysis – May 12

Revision of Base Year of All-India Index of Industrial Production (IIP) 
  • The change of BY is from 2004-05 to 2011-12 
  • IIP is calculated by CSO
  • The revision is done to reflect the changes in the industrial sector but to also align it with the base year of other macroeconomic indicators like the Gross Domestic Product (GDP), Wholesale Price Index (WPI)
  • Under the new system
    • An institutional mechanism has been established for facilitating dynamic revision of the item list of products and the panel of factories
    • This is Technical Review Committee. It will be chaired by Secretary, Ministry of Statistics & PI)
    • This Committee will meet at least once a year for identifying new items that need to be included in the item basket and removing those that have lost its relevance in the industrial sector or are no longer being produced
    • The revised series will continue to represent the Mining, Manufacturing and Electricity sectors
    • The revised series uses the National Industrial Classification (NIC) 2008 for the purpose of classification of industrial production
    • The unit coverage of IIP will, as before, cover entities in the organized sector units registered under the Factories Act, 1948
    • The weightage given to the groups will be
      • Mining – 14.373% (previously it was 14.157%)
      • Manufacturing – 77.633% (previously it was 75.527%)
      • Electricity – 7.994% (previously it was 10.316%)
    • The item groups will be
      • Mining – 1 (previously it was 1)
      • Manufacturing – 405 (previously it was 397)
      • Electricity – 1 (previously it was 1)
    • The practice of using Wholesale Price Index (WPI) to deflate items for which data is reported in value terms will continue

 

NHAI Masala Bond Launched at London Stock Exchange
  • Issue size is ₹ 3000 Cr with a yield rate of 7.30%
  • The transaction marks the largest ever 5-year issuance and the largest inaugural transaction in Masala Bond market

 

e-Krishi Samvad
  • It is internet-based interface and is a unique platform that will provide direct and effective solutions to the problems faced by farmers and stakeholders in the agriculture sector
  • Uses to farmers are:
    • They can directly connect to the ICAR websiteand get the appropriate solutions from the subject matter specialists and institutes through web or SMS
    • Stakeholders can upload photographs related to diseases of the crops, animals or fishes for diagnostics and remedial measures instantly from the specialists

 

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